An attempt to get everything in my head in blog form - it's rather a mess as you might imagine!
(ObDisclaimer: These are MY views, nothing to do with my employer, family, friends or anyone else, MINE!)

Monday, 18 May 2009

Dear Mr Brown

Thanks for helping to make my life that much harder because of the mess you have gotten this economy in the pathetic attempts you and your government have made to fix things. Oh, and I particularly like the money that the banks have got that doesn't seem to be filtering down to the likes of me.

I have debt. In fact I have quite alot of debt. Some of it was just spending for ages ago that was hanging around, some (most) is more recent spending (on credit cards). I don't blame anyone for it, I take full responsibility, it's my problem. I would use the, fairly pathetic but truthful, execuse that alot has been due to what I have gone through over the past year or so, it's certainly contributed.

So, faced with the problem I have attempted to find a solution. Stop spending on credit cards and try and manage the debt by consolidating it all so that I can move foward, pay it off and deal with things with the minimum of fuss.

I applied for further borrowing against the mortage, provided all the information, had to suffer the indignity of changing my name *again* when I thought I'd finished that process last year. I gave an explanation of why the debts had mounted up and said that I was trying to sort everything out.

Rejected.

No chance of appeal.

To add insult to injury, the application should have been rejected immediately apparently.

This was the last ditch attempt. I didn't want to borrow against the house but it was the only way I thought I would get the best chance of a loan: stick to something with security, with an organisation that is already familiar with me and to whom I'd proved I was a reliable and good customer.

Nothing.

So where is all this money that the banks have got? Presumably they are keeping hold of it because they clearly don't want to let me have it.

So, no, probably I'm not inclined to vote you and your party in for another term, you have done quite enough damage already. I'm obviously not one of the people who is worst off because of you but your policies and handling of the economy have now had a direct and damaging affect on me, as they are doing to many other people. Thanks again.

[ P.S. So, where do I go from here. I am not financially "screwed" for want of a better expression. I can't afford to repay the debts I have and no-one will lend me the money to help me manage them better. Catch-22, as I'm now almost certain to just get into more and more debt as the interest piles up ]

You can't keep on spending - the end result will be bankruptcy. Get in touch with http://www.payplan.com/ (a non charging charity) to calculate what you can afford to pay towards your debts (maybe as little as 20p in the £). If you continue as you are your son's home will be repossessed and your ex-wife & child turfed out into the street. Take control!

I would agree that I can't keep on spending. The credit cards have now been locked away (I've cancelled two so far that were empty and un-used and will get rid of all others).

I am continuing to pay all bills and mortgage so there no-one there are no red-reminders or similar letters that lead to *serious* problems.

I've potentially managed to sort out a better interest rate for the existing debt which will mean that it is managagable now.

Thanks for the link, will look into it. However, as I have no "priority" debts I think this is something I should try and sort out myself before asking such organisations for help; they would rightly say that they have people in a much worse state to look after before dealing with me.

Although organisations like the one mentioned above and others like the CAB are busy they will all be willing to help. Also if you haven't used look up moneysavingexpert web site as a great free advice site.Sadly even very sound individuals and company's are finding it hard to get loans at the moment and will stay that way until they've worked all the dumb decisions they made off their balance sheets. Good luck